The global automotive cooler market is estimated to reach around USD 10 billion by 2025, registering a CAGR of ~5.5% during the forecast period. The increasing demand for high speed vehicles, stringent vehicle emission norms, growing need of passenger comfort, and deployment of HVAC system in vehicles are driving the growth of global market.
Overview
The automotive value chain is undergoing considerable change siting surging global demand levels, which has translated to efficient growth in the automobile auxiliary market also. Market reports linked to the automobile industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is set for expansion with a 6.15% CAGR in the duration of the forecast period.
The intensifying call for efficient HVAC systems that don’t compromise on the overall performance of the vehicle is gaining priority on the automobile manufacturers production line globally. The market is also set to amass significant market share owing to increasing demand for vehicles for longer periods of time. The escalation in demand for passenger vehicles is expected to further the growth potential of the market over the forecast period.
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Segmental Analysis
The segmentation of the automotive cooler market is carried out on the basis of type, vehicle type, application, and region. On the basis of type, the automotive cooler market is segmented into tube and fin and plate and fin. On the basis of vehicle type, the automotive cooler market comprises of commercial vehicle and passenger vehicle. The segmentation on the basis of application, consists of HVAC Cooler, Engine Cooler, Brake Lubricant and Others. The regions included in the market are North America, Europe, Asia Pacific, and Rest of the World.
Detailed Regional Analysis
The global automotive cooler market can be geographically segmented into Europe, Asia Pacific, North America, and Rest of the World. The Asia Pacific is anticipated to observe the maximum growth through the forecast period owing to the rise in vehicle production in nations such as India and China. The market in the emerging countries is principally driven by economic development and ongoing industrialization, which is helping in the production of vehicles. Furthermore, the increased production of vehicles, low manufacturing cost and accessibility to cheap labor are some of the factors that are boosting the market in the Asia Pacific region. The North American region is anticipated to be the next largest region to witness the maximum CAGR during the forecast period. The European region is expected to display steady growth during the forecast period.
Competitive Analysis
The progress patterns are revised in tandem to the customer preferences to realize maximum growth, and in the long run, profitability. The progress in the products and services is the foremost factor in growing the market's productivity and controlling the trends that are acquiring standing in the market. The improvement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The changes seen in terms of strategy execution and creation are varying the expansion pace of the market. The shortfalls in the market are filled due to the implementation of suitable supply chain strategies. The background for growth plans has equipped the market for potential new entrants. The critical success factors and players’ tendencies are gradually escalating by the strategies being used by market contenders.
The key companies functioning in the automotive cooler market are Chevron Corporation (U.S.), BP P.L.C.(U.K.), Cummins Filtration (U.S.), Gallay Ltd (England), Shandong Yuean Chemical Industry Co. Ltd (China), NENGUN CO. LTD (Japan), Hayden Automotive (U.S.) and Calsonic Kansei Corporation (Japan).
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About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Global Automotive Robotics Market Information by Product Type (SCARA Robot, Articulated Robot, and Cartesian Robot), by Type (Hardware, Software, and Service), by Application (Gripping, Stamping, Welding, Painting, Assembly, and Others), and by Region - Forecast to 2022
Automotive robotics system is used to assist the manufacturing process in the automotive industries such as assembling, welding, cutting, dispensing, painting and others.
The usage of the automotive robotics in the manufacturing process helps reducing the operational cost as it helps improve quality & operational flexibility, decrease production & manufacturing errors, and also reduce wastage of the raw material.
Moreover, Increased concerns for labor safety, the adoption of automation to ensure quality production, and to meet market demand on time are the main drivers which is expected to contribute in the growth of the automotive robotics market.
The global automotive robotics market is expected to show a growth at CAGR of about 10% from 2016 to 2022.
Study Objectives of Global Automotive Robotics Market
